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Dec 4, 2012
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bond market, yields still very contained for spain and italy. 5.2% yields in spain. italian yields slightly lower, 4.39. gilt you see currently just edging slightly higher. and on the currency markets, dollar index at a one month low. ism manufacturing not helping. dollar-yen therefore down to 82 and dollar is done against everything else, as well. apart from the swiss franc. let's show where you we stand with oil prices right now. we've got nymex trading at 89. present at 110. both of them fairly steady. what about the outlook? joining us is peter hunt at rbc. peter, good morning to you. so does oil stay in this sort of recent ranges for the foreseeable future? >> actually we think it is. it sounds like sort of the risk of complacency. something we challenge ourselves on quite regularly. but given the points about china demand and global gdp, we're still very cautious in terms of demand, but the issue for the oil markets is supply and there are still big movements going on there. i think over the last three months, you've seen a really sharp fall in the output from
bond market, yields still very contained for spain and italy. 5.2% yields in spain. italian yields slightly lower, 4.39. gilt you see currently just edging slightly higher. and on the currency markets, dollar index at a one month low. ism manufacturing not helping. dollar-yen therefore down to 82 and dollar is done against everything else, as well. apart from the swiss franc. let's show where you we stand with oil prices right now. we've got nymex trading at 89. present at 110. both of them...
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Dec 10, 2012
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the ibex 35 in spain, down almost 1.5%. we can take a quick look there.f investors are rotating out of the periphery. italy and spain, moving higher. bund is below 1.3% as a result. italian shares are trading lower. banks stocks particularly hard hit on the back of political uncertainty generated by mario monte's position to resign from his post as prime minister. his departure is likely to lead to an early election in february. monte's predecessor has announced his attention intengz to return to office. sylvia berlusconi says he'll seek a fifth term as italian premier. carolin is following this situation from rome. how likely is it that we see berlusconi return to politics next year? >> kelly, you know what? it's pretty unlikely. if you look at the latest polls, his pdl party, which is deeply fragmented, is trailing the biggest party, the pd party, but around 16%. it's going to be very, very tough. not even impossible for him to close that gap over the next two months. but i want to continue the discussion about what monti
the ibex 35 in spain, down almost 1.5%. we can take a quick look there.f investors are rotating out of the periphery. italy and spain, moving higher. bund is below 1.3% as a result. italian shares are trading lower. banks stocks particularly hard hit on the back of political uncertainty generated by mario monte's position to resign from his post as prime minister. his departure is likely to lead to an early election in february. monte's predecessor has announced his attention intengz to return...
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Dec 18, 2012
12/12
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we're seeing spain and italy yields falling 5.4% or just under that level in spain. gilt in particular, if you look at the 1.92% level, this on the back of the inflation report which showed cpi up 2.7% year on year. forex, the euro/dollar was stronger earlier. we're seeing just a little bit to the up side. not too far off the 1.32 mark which is extraordinary. the sterling moving to a multi month high. 1.62. it's just over that level this morning, up .1%. >>> now, spain will keep a quick look -- take a quick look at the results from italy in this debt auction. we've got basically an offering of short-term bills, three month and six-month bills. the yields on that are still coming through. looks as though spain has sold about 11.5 billion in the three months and just shy of 2 billion in the six-month paper. the bid to cover ratios for both, let's see, at least the six month moving higher on the three month and more importantly, the yield on the three month. 1.373 versus 1% the last time around. still waiting on the yield for this six month. while we wait for that to co
we're seeing spain and italy yields falling 5.4% or just under that level in spain. gilt in particular, if you look at the 1.92% level, this on the back of the inflation report which showed cpi up 2.7% year on year. forex, the euro/dollar was stronger earlier. we're seeing just a little bit to the up side. not too far off the 1.32 mark which is extraordinary. the sterling moving to a multi month high. 1.62. it's just over that level this morning, up .1%. >>> now, spain will keep a...
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Dec 13, 2012
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spain, this will be a good proxy for now. we'll get the ten year for italy in just a second. 35.34% is the level there. u.s. benefiting from fund flows well. choppy trade across the picture here. let's look at the italian curve before we get the results later today. we are seeing green across the board, so yields dipping before that probably has more to do with the political rhetoric we're seeing especially coming from berlusconi. under 4.6% for the ten-year and on the short and two, a bit of a rally. finally, let's close taking a look at the forex. euro/dollar is weaker. and it's holding just above 1.30. and the dollar/yen, this is the one sixuan mentioned to watch. heading into japanese elections, stocks outperform adding oots .1% to 83.35 this morning. >>> south korea's central bank may be worried about factors in the economy, but the dok says the economy is stronger than it used to be. more on that next. can i help you? i heard you guys can ship ground for less than the ups store. that's right. i've learned the only way t
spain, this will be a good proxy for now. we'll get the ten year for italy in just a second. 35.34% is the level there. u.s. benefiting from fund flows well. choppy trade across the picture here. let's look at the italian curve before we get the results later today. we are seeing green across the board, so yields dipping before that probably has more to do with the political rhetoric we're seeing especially coming from berlusconi. under 4.6% for the ten-year and on the short and two, a bit of a...
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Dec 11, 2012
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we are not where we were two years ago, not only in spain, but in italy. one of the few countries in the eurozone where the share of international investors, but i think if we were to talk about the flows, we should be looking more at france than spain. >> france has canceled its last two treasury bonds for the year. read anything into that? >> no. i think it's a mert of issuing out the files until next year. and the treasuries overall role in terms of high visibility in terms of revenue streams, so they're just doing the job. i should say the italian treasury here is doing an excellent job over the years. >> the fed is beginning a two-day meeting today. the announcements come together. 12:30 eastern. the fed is expected to lunch a new bond bike program to replace the operation twist that expires at the end of this month, the goal to keep rates low, possibly soften the blow from any risk of the u.s. going over the fiscal cliff. but bernanke did warn last month that the fed couldn't offset that shock. how small is the risk that they don't deliver what credi
we are not where we were two years ago, not only in spain, but in italy. one of the few countries in the eurozone where the share of international investors, but i think if we were to talk about the flows, we should be looking more at france than spain. >> france has canceled its last two treasury bonds for the year. read anything into that? >> no. i think it's a mert of issuing out the files until next year. and the treasuries overall role in terms of high visibility in terms of...
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Dec 21, 2012
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5.3% for spain aren't bad considering. t thor row/dollar is weaker. most of the risk currencies are moving lower. euro/dollar down by .3%. sterling is weaker against the dollar. we're seeing the dollar generally up. the dollar/yen here up .4% for the yen. so we've seen some significant weakening as the bank of japan trying to combat deflation. but today, a pause in that move. joining us now with plenty more on the asian trade, diedra. >> it's not the end of the world, but it is pretty ugly out here in asia. markets were headed towards some gains today and then all of a sudden we did get that fiscal cliff set back. the nikkei 225 dropping a percent. you can see the dollar/yen hovering around 84. we were lower earlier on. this in south korea, the kospi shedding about 1%, as well. blame the politicians for their fiscal cliff negotiations or lack thereof. samsung electronics slumped 4%. it's that ongoing spat between samsung and apple. that weighed heavily on the kospi. now, in greater china, also some losses. the shanghai com
5.3% for spain aren't bad considering. t thor row/dollar is weaker. most of the risk currencies are moving lower. euro/dollar down by .3%. sterling is weaker against the dollar. we're seeing the dollar generally up. the dollar/yen here up .4% for the yen. so we've seen some significant weakening as the bank of japan trying to combat deflation. but today, a pause in that move. joining us now with plenty more on the asian trade, diedra. >> it's not the end of the world, but it is pretty...
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Dec 5, 2012
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so spain trying to get ahead of game. big issuance and redemptions next year. >>> in india, we're expecting a big battered parliament for retail reforms. the latest from new delhi. what kind of battle is it going to be? >> it's going to be a tough battle for the government here as it tries to push forward. currently we've got a heated discussion in the lower house of parliament. this matter will have to be discussed, debated and voted on in both houses of parliament. as for india's foreign exchange management rules, this will need to be cleared by both houses of parliament before it becomes the law of the land. as of now, all our political sources seem to indicate that the government is safe when it comes to the numbers in the lower house of parliament, but it's looking uncertain and shaky when it comes to the register but for the upper house of parliament. most political parties who are in opposition have stridently opposed retail saying it will kill the small retailer in india, it's going to be aunt consum -- anti-consu
so spain trying to get ahead of game. big issuance and redemptions next year. >>> in india, we're expecting a big battered parliament for retail reforms. the latest from new delhi. what kind of battle is it going to be? >> it's going to be a tough battle for the government here as it tries to push forward. currently we've got a heated discussion in the lower house of parliament. this matter will have to be discussed, debated and voted on in both houses of parliament. as for...
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Dec 20, 2012
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it's still going to be quite potent there in places like spain. but overall, as the western economies, it's likely to be a lesser force than it has been in the last couple of years. we also then have to consider what i'd call the tailwinds. most obvious about those is the monetary stimulus. we just had the news out today from the bank of japan. it's looking to get its purchases up to 101 trillion yep by tend of next year, up from 67 trillion yen at the moment. that's a vast expansion as we share with japanese gdp going from 14% to 21% from the end of this year t to end of next year. as well, we think the fed will be very aggressive by 85 billion dollars of securities a month until june and then it will fade out to substantial pace a month. so there's quite a lot of monetary stimulus coming there from the fed and the bank of japan particularly. that should be a positive environment for financial assets. financial assets, as well, being helped by the governance and the structural economic reform that are emerging by the way europe is taking more ste
it's still going to be quite potent there in places like spain. but overall, as the western economies, it's likely to be a lesser force than it has been in the last couple of years. we also then have to consider what i'd call the tailwinds. most obvious about those is the monetary stimulus. we just had the news out today from the bank of japan. it's looking to get its purchases up to 101 trillion yep by tend of next year, up from 67 trillion yen at the moment. that's a vast expansion as we...
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Dec 14, 2012
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whether it's the bund or even yields in spain are falling as prices rise a little bit. so there is light at the end of the tunnel according to our next guest. he says the global economy is close to reaching its weakest point before recovery sets in. he's robert cohen, chief equity strategist. woke. >> good morning. >> we just heard rob doddson talking through some of these results. unfortunately, we saw some signs of weaker demand, especially global demand in these reports. but perhaps what is consistent with what you're saying, why is it your view that that is going to happen? >> sometimes you need to pull away. you move away from the fundamentals a little bit on the month to month improvements. if you look at 2013 as a whole, the big headwinds you've had in a number of years, fiscal austerity is largely the sarp in europe year on year. 2014, that comes up quite quickly. 2013 is largely going to be the final year of the crushing deleveraging if you like on the european banks. so essentially the whole theme of the aurm is 2014 should credibly be the first recovery year
whether it's the bund or even yields in spain are falling as prices rise a little bit. so there is light at the end of the tunnel according to our next guest. he says the global economy is close to reaching its weakest point before recovery sets in. he's robert cohen, chief equity strategist. woke. >> good morning. >> we just heard rob doddson talking through some of these results. unfortunately, we saw some signs of weaker demand, especially global demand in these reports. but...